Vietnam cuts banks' reserve requirement to 8 pct

VIETNAM - Vietnam's central bank said on Tuesday it had cut the level of reserves banks must maintain for foreign currency deposits to eight percent from 10 percent.

A central bank official said the new rate took effect from 1 April and applied to short-term deposits of up to 12 months at both local and foreign commercial banks.

The 10-percent ratio had been effective since December, when it was cut from 15 percent, a move bankers said would help ease dollar supply problems.

The central bank off

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